Officers say the death is not being treated as suspicious.
Earlier today, police appealed for information about Mr McKay’s whereabouts after he was last seen leaving an address in Dumfries at 7.30am yesterday.
Concerned for the 38-year-old’s welfare, they believed he may have travelled back north towards Stonehaven.
In a statement, the force said: “Police Scotland can confirm that the body of a man was found on the coastline near Crawton, Aberdeenshire around 9.30am on Monday, October 4.
“The family of Craig McKay, 38, missing from Stonehaven since Sunday, October 3 have been made aware of the discovery.
“Formal identification is yet to take place and the death is not being treated as suspicious.”
Body found on coastline in search for missing Stonehaven man